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Consider how Bear Valley, a popular ski resort, could use capital budgeting to decide whether the $8 million River Park Lodge expansion would be a good investment. (Click the icon to view the expansion estimates.) (Click the icon to view the present value annuity factor table.) (Click the icon to view the present value factor table.) (Click the icon to view the future value annuity factor table.) (Click the icon to view the future value factor table.) Read the requirements. Requirement 1. What is the project's NPV? Is the investment attractive? Why or why not? Calculate the net present value of the expansion. (Round your answer to the nearest whole dollar. Use parentheses or a minus sign for a negative net present value.) Net present value of expansion - Valley, a popular ski resort, could use capital budgeting to decide whether the $a sion would be a good investment. i Data Table Assume that Bear Valley's managers developed the following estimates concerning a planned expansion to its River Park Lodge (all numbers assumed): n . et be er a alue Number of additional skiers per day... 121 Average number of days per year that weather conditions allow skiing at Bear Valley 162 Useful life of expansion (in years) 8 Average cash spent by each skier per day.......... $ 244 Average variable cost of serving each skier per day . $ 148 Cost of expansion.. $ 8,000,000 Discount rate 12% Assume that Bear Valley uses the straight-line depreciation method and expects the lodge expansion to have a residual value of $1,000,000 at the end of its eight-year life. It has already calculated the average annual net cash inflow per year to be $1,881,792. Print Done number in the edit fields and then click Check Answer. ning Clear All Check Answer Reference Present Value of Annuity of $1 Periods 1% 2% 3% 4% 5% 6% 8% 10% 12% 14% 16% 18% 20% Period 1 0.990 0.980 0.971 0.962 0.952 0.943 0.926 0.909 0.893 0.877 0.862 0.847 0.833 Period 2 1.970 1.942 1.913 1.886 1.859 1.833 1.783 1.736 1.690 1.647 1.605 1.566 1.528 Period 3 2.941 2.884 2.829 2.775 2.723 2.673 2.577 2.487 2.402 2.322 2.246 2.174 2.106 Period 4 3.902 3.808 3.717 3.630 3.546 3.465 3.312 3.170 3.037 2.914 2.798 2.690 2.589 Period 5 4.853 4.713 4.580 4.452 4.329 4.212 3.993 3.791 3.605 3.433 3.274 3.127 2.991 Period 6 5.795 5.601 5.417 5.242 5.076 4.917 4.623 4.355 4.111 3.8893.685 3.498 3.326 Period 7 6.728 6.472 6.230 6.002 5.786 5.582 5.206 4.868 4.564 4.288 4.039 3.812 3.605 Period 8 7.652 7.325 7.020 6.733 6.463 6.210 5.747 5.335 4.968 4.639 4.344 4.078 3.837 Period 9 8.566 8.162 7.786 7.435 7.108 6.802 6.247 5.759 5.328 4.946 4.607 4.303 4.031 Period 10 9.471 8.983 8.530 8.111 7.722 7.360 6.710 6.145 5.6505.216 4.833 4.494 4.192 Period 11 10.368 9.787 9.253 8.760 8.306 7.887 7.139 6.495 5.938 5.453 5.029 4.656 4.327 Period 12 11.255 10.575 9.954 9.385 8.863 8.384 7.536 6.814 6.194 5.660 5.197 4.793 4.439 Period 13 12.134 11.348 10.635 9.986 9.394 8.853 7.904 7.103 6.424 5.842 5.342 4.910 4.533 Period 1413.004 12.106 11.296 10.563 9.899 9.295 8.244 7.367 6.628 6.002 5.468 5.008 4.611 Period 15 13.865 12.849 11.938 11.118 10.380 9.712 8.559 7.606 6.811 6.142 5.575 5.092 4.675 Period 20 18.046 16.351 14.877 13.590 12.462 11.470 9.818 8.514 7.469 6.623 5.929 5.353 4.870 Period 25 22.023 19.523 17.413 15.622 14.094 12.783 10.675 9.077 7.843 6.873 6.097 5.467 4.948 Period 30 25.808 22 396 19.600 17.292 15.372 13.765 11.258 9.427 8,055 7.003 6.177 5.517 4.979 Period 40 32.835 27.355 23.115 19.793 17.159 | 15.046 11.925 9.779 8.244 7.105 6.233 5.548 4.997 Print Done 3 parts remaining Clear All Check Answer 0 Reference Future Value of Annuity of $1 Periods 1% 2% 3% 4% 5% 6% 8% 10% 12% 14% 16% 18% Period 1 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 Period 2 2.010 2.020 2.030 2.040 2.050 2.060 2.080 2.100 2.120 2.140 2.160 2.180 Period 3 3.030 3.060 3.091 3.122 3.153 3.184 3.246 3.310 3.374 3.440 3.506 3.572 Period 4 4.060 4.122 4.184 4.246 4.310 4.375 4.506 4.641 4.779 4.921 5.066 5.215 Period 5 5.101 5.204 5.309 5.416 5.526 5.637 5.867 6.105 6.353 6.610 6.877 7.154 Period 6 6.152 6.308 6.468 6.633 6.802 6.975 7.336 7.716 8.115 8.536 8.977 9.442 Period 7 7.214 7.434 7.6627.898 8.142 8.394 8.923 9.487 10.089 10.730 11.414 12.142 Period 8 8.286 8.583 8.892 9.214 9.549 9.897 10.637 11.436 12.300 13.233 14.240 15.327 Period 9 9.369 9.755 10.159 10.583 11.027 11.491 | 12.488 13.579 14.776 16.085 17.519 19.08 Period 10 10.462 10.950 11.464 12.006 12.578 13.181 14.48715.937 17.549 19.337 21.321 23,521 Period 11 11.567 12.169 12.808 13.486 14 207 14.972 16.645 18.531 20.655 23.045 25.733 28.756 Period 12 12.683 13.412 14.192 15.026 15.917 16.870 18.977 21.384 24.133 27.271 30.850 34.931 Period 13 13.809 14.680 15.618 16.627 17.713 18.882 21.495 24.523 28.029 32.089 36.786 42.219 Period 14 14.947 15.974 17.086 18.292 19.599 21.015 24 215 27.975 32.393 37.581 -43.672 50.81 Period 15 16.097 17.293 18.599 20.024 21.579 23.276 27.152 31.772 37 280 43.842 51.660 60.965 Period 20 22.019 24.297 26.870 29.778 33.066 36.786 45.762 57.275 72.052 91.025 115.380 146.62 Period 25 28.243 32.030 36.459 41.646 47.727 54.865 73.106 98.347 133.334 181.871 249.214 342.60 Period 30 34.785 40.568 47.575 56.085 66.439 79.058 113.283 164.494 241.333 356.787 530.312 790.94 Period 40 48.886 60.402 75.401 95.026 120.800 154.762 259.057 442 593 767.091 1.342.025 2,360.757 4,163.2 En Print Done 0 Reference Present Value of $1 4% Periods 1% 2% 3% 5% 6% 8% 10% Period 1 0.990 0.980 0.971 0.962 0.952 0.943 0.926 0.909 Period 2 0.980 0.961 0.943 0.925 0.907 0.890 0.857 0.826 Period 3 0.971 0.942 0.915 0.889 0.864 0.840 0.794 0.751 Period 4 0.961 0.924 0.888 0.855 0.823 0.792 0.735 0.683 Period 5 0.951 0.906 0.863 0.822 0.784 0.747 0.681 0.621 Period 6 0.942 0.888 0.837 0.790 0.746 0.705 0.630 0.564 Period 7 0.933 0.871 0.813 0.760 0.711 0.665 0.583 0.513 Period 8 0.923 0.853 0.789 0.731 0.677 0.627 0.540 0.467 Period 9 0.914 0.837 0.766 0.703 0.645 0.592 0.500 0.424 Period 10 0.905 0.820 0.744 0.676 0.614 0.558 0.463 0.386 Period 11 0.896 0.804 0.722 0.650 0.585 0.527 0.429 0.350 Period 12 0.887 0.788 0.701 0.625 0.557 0.497 0.397 0.319 Period 13 0.879 0.773 0.681 0.601 0.530 0.469 0.368 0.290 Period 14 0.870 0.758 0.661 0.577 0.505 0.442 0.340 0.263 Period 15 0.861 0.743 0.642 0.555 0.481 0.417 0.315 0.239 Period 20 0.820 0.673 0.554 0.456 0.377 0.312 0.215 0.149 Period 25 0.780 0.610 0.478 0.375 0.295 0.233 0.146 0.092 Period 30 0.742 0.552 0.412 0.308 0.231 0.174 0.099 0.057 Period 40 0.672 0.453 0.307 0.208 0.142 0.097 0.046 0.022 12% 14% 16% 18% 20% 0.893 0.877 0.862 0.847 0.833 0.797 0.769 0.743 0.718 0.694 0.712 0.675 0.641 0.609 0.579 0.636 0.592 0.552 0.516 0.482 0.567 0.519 0.476 0.437 0.402 0.507 0.456 0.410 0.370 0.335 0.452 0.400 0.354 0.314 0.279 0.404 0.351 0.305 0.266 0.233 0.361 0.308 0.263 0.225 0.194 0.322 0.270 0.227 0.191 0.162 0.287 0.237 0.195 0.162 0.135 0.257 0.208 0.168 0.137 0.112 0.229 0.182 0.145 0.116 0.093 0.205 0.160 0.125 0.099 0.078 0.183 0.140 0.108 0.084 0.065 0.104 0.073 0.051 0.037 0.026 0.059 0.038 0.024 0.016 0.010 0.033 0.0200.012 0.007 0.004 0.011 0.005 0.003 0.001 0.001 EN Print Done ? 3 parts remaining Clear All Check Answer i Reference 3% Periods 1% 2% 4% Period 1 1.010 1.020 1.030 1.040 Period 2 1.020 1.040 1.061 1.082 Period 3 1.030 1.061 1.093 1.125 Period 4 1.041 1.082 1.126 1.170 Period 5 1.051 1.104 1.159 1.217 Period 6 1.062 1.126 1.194 1.265 Period 7 1.072 1.149 1.230 1.316 Period 8 1.083 1.172 1,267 1.369 Period 9 1.094 1.195 1.305 1.423 Period 10 1.105 1.219 1.344 1.480 Period 11 1.116 1.243 1.384 1.539 Period 12 1.127 1.268 1.426 1.601 Period 13 1.138 1.294 1.469 1.665 Period 14 1.149 1.319 1.513 1.732 Period 15 1.161 1.346 1.558 1.801 Period 20 1.220 1.486 1.806 2.191 Period 25 1.282 1.641 2.094 2.666 Period 30 1.348 1.811 2.427 3.243 Period 40 1.489 2.208 3.262 4.801 Future Value of $1 5% 6% 8% 10% 12% 14% 16% 18% 2 1.050 1.060 1.080 1.100 1.120 1.140 1.160 1.180 1.103 1.124 1.166 1.210 1.254 1.300 1.346 1.392 1.158 1.191 1.260 1.331 1.405 1.482 1.561 1.643 1.216 1.262 1.360 1.464 1.574 1.689 1.811 1.939 1.276 1.338 1.469 1.611 1.762 1.925 2.100 2.288 1.340 1.419 1.587 1.772 1.974 2.195 2.436 2.700 2 1.407 1.504 1.714 1.949 2.211 2.502 2.826 3.185 1.477 1.594 1.851 2.144 2.476 2.853 3.278 3.759 4 1.551 1.689 1.999 2.358 2.773 3.252 3.803 4.435 5 1.629 1.791 2.159 2.594 3.106 3.707 4.411 5.234 6 1.710 1.898 2.332 2.853 3.479 4.226 5.117 6.176 7 1.796 2.012 2.518 3.138 3.896 4.818 5.936 7.288 8 1.886 2.133 2.720 3.452 4.363 5.492 6.886 8.599 10 1.980 2.261 2.937 3.797 4.887 6.261 7.988 10.147 12 2.079 2.397 3.172 4.177 5.474 7.138 9.266 11.974 15 2.653 3.207 4.661 6.727 9.646 13.743 19.461 27393 38 3.386 4.292 6.848 10.835 17.000 26.462 40.874 62.669 95 4.322 5.743 10.063 17.449 29.960 50.950 85.850 143.371 23 7.040 10.286 21.725 45.259 93.051 188.884 378.721 750.378 1,4 NN ON